Author name: dreamspersqftmagazine

Bangalore, 18th February 2025: Embassy Services Private Limited (ESPL), the property management arm of Embassy Group, is pleased to announce the promotion of Saarang Ganapathi as its Chief Executive Officer (CEO). With over 11 years of expertise in Real Estate Management and 7 years at ESPL, Saarang has been instrumental in driving operational excellence, scaling efficiencies, and expanding ESPL’s footprint across 130 million square feet in 12 states. Previously as Chief Operating Officer, he has played a key role in strengthening ESPL’s presence across diverse real estate sectors, including business parks, airports, data centres, high commissions, retail, co-working spaces, hospitality, education, and residential developments. His leadership has been instrumental in shaping ESPL into one of India’s leading integrated property and facility management providers. Saarang has also spearheaded the expansion of ESPL’s service portfolio, adding Project Management Consultancy and Renewable Energy Advisory to its offerings. “I am honoured and privileged to step into the role of CEO at ESPL, a company I am deeply committed to and proud to have been a part of. As we embark on this next phase of growth, my focus remains on driving operational excellence, expanding strategic initiatives, and providing greater value to our clients. Building on our strong foundation and track record of innovation, I look forward to accelerating ESPL’s expansion into new markets across India, while reinforcing its position as an industry leader. With our talented team, I am excited about the opportunities ahead,” said Saarang Ganapathi, CEO, Embassy Services Private Limited. In his new role as CEO, Saarang will focus on strengthening ESPL’s capabilities in renewable energy, project management consultancy, and integrated property solutions. He will continue to oversee a workforce of over 20,000 professionals, ensuring the delivery of high-quality services while fostering innovation and sustainable growth.

Mumbai, 18th February 2025: Bollywood actress Amrita Singh has acquired a residential apartment in Juhu, Mumbai, for Rs. 18 crore, according to property registration documents reviewed by Square Yards on the website of the Inspector General of Registration (IGR) https://igrmaharashtra.gov.in. The transaction was registered in February 2025. Juhu, one of Mumbai’s most prestigious and sought-after residential areas, is home to several Bollywood celebrities. The locality is known for its scenic beach, upscale restaurants, and proximity to business hubs like Andheri and Bandra. It also boasts excellent connectivity with the Western Express Highway, international airport and the Mumbai Metro network. Bollywood stars like Varun Dhawan, Janhvi Kapoor, Kartik Aaryan and Shakti Kapoor, also own apartments in Juhu, as per Square Yards’ analysis of IGR property registration documents. The property acquired by Amrita Singh is located in Peninsula building in Nutan Laxmi Cooperative Housing Society Limited, which is a ready-to-move-in residential project. According to the IGR property registration documents reviewed by Square Yards, the apartment spans a built-up area of 252.04 sq. m. (~2,712.9 sq. ft.) and includes three car parking spaces. The deal incurred a stamp duty payment of Rs. 90 lakh and a registration charge of Rs. 30,000. Amrita Singh, a celebrated actress in Indian cinema, gained prominence in the 1980s with her debut in Betaab (1983), which became a massive success. Known for her versatile performances, she delivered critically acclaimed roles in films like Mard, Naam, Chameli Ki Shaadi, and Raju Ban Gaya Gentleman. After a hiatus, she made a powerful comeback with Kalyug and Shootout at Lokhandwala, proving her acting prowess once again. Her performance in Aaina earned her a Filmfare Award for Best Supporting Actress, and she later won accolades for her role in 2 States.

Mumbai, 17th February 2025: The Goa Rehabilitation Board and Goa Housing Board have called the Real Estate Developers’ Body NAREDCO Maharashtra to explore investment opportunities in the development of the residential, commercial, mixed–used, redevelopment and business parks segments of the State. The senior representatives of the Goa Rehabilitation Board and Goa Housing Board presented the landscape of ‘Unlocking Real Estate Opportunities in Goa’ to the developer members of NAREDCO Maharashtra, which organized its Annual Members Meet 2025 at Panjim in Goa to observe a successful milestone of completion of ten years of the trade body’s Maharashtra Chapter. “Goa is not just a tourism destination now, but a fast-growing State for scaling businesses including the real estate offering an exponential potential to the developers who are looking for setting up of new residential and commercial projects along the coastline or in the States’ hinterland and also for the global investors who are willing to invest in second or leisure homes, luxury villas, rental homes or hospitality ventures”, said Aleixo Da Costa, Secretary, Goa Rehabilitation Board while talking about the ‘Opportunities in Goa’. Announcing the mega plans to release the unused land parcels for real estate development in the State, Da Costa said, “The public sector is looking at redevelopment of its used land parcels combined with monetization of its unused land parcels through the public–private partnerships.” He mentioned that the places like Vasco, Sada Vasco, Baina, Zuari Nagar, Colvale have major unused land parcels making the scope for huge investments. “We are planning to take all these land parcels together, release the unused land in Sada Vasco for rehabilitation purposes first and then monetize the rest of the land parcels in a PPP model where private developers can participate. The tenders will be issued very soon for monetization of the land,” Da Costa informed. The land parcels are mostly in Vasco City and within a radius of 1 to 2 kms from Airport, Seaport and Railway making these land parcels huge potential for investments. The land parcels mentioned are: Sada Vasco (24,580 sq mtrs, Used: 10,000 sq mtrs, Unused: 14,000 sq mtrs), Baina (4600 sq mtrs), Adarsh Nagar Chicalim (Vacant Land: 23,533 sq mtrs), Colvale (1000 sq mtrs) and Zuari Nagar (1800 sq mtrs). Sadashiv Gaonkar, Housing Engineer, Goa Housing Board, while talking about ‘Unlocking Real Estate Opportunities in Goa’ invited the leading developers and investors to participate in the strategic development of prime land parcels in the state. He said, “Goa’s real estate is experiencing an unprecedented growth driven by increasing demand by professionals, remote workers and institutional investors and the State is ready for investment, as there is a need to meet the rising demand for diverse accommodation options, residential development and mixed–use projects.” According to the presentation by Gaonkar from Goa Housing Board, Goa’s real estate market offers excellent returns, especially in North Goa. Property prices in Goa are climbing at 15% to 30% each year, making it a high growing market. On an average, the properties in North Goa have appreciated by ~83% over the last 5 years, with Candolim (168.5%), Siolim (149.2%) and Calangute (83%) experiencing significant price appreciation. Investors are eyeing Goa’s income generating properties, including commercial spaces and villas. Goa’s booming tourism guarantees strong rental incomes, with a return-on-investment (ROI) ranging from 4% to 10% each year. North Goa areas bring-in annual rental payouts of 8-9%, while South Goa offers 6-8% returns. ~35% of holiday home buyers prefer Goa as a second home destination, highlighting its appeal among India’s population. Real estate inquiries in Goa increased by 90% in the last five years, showing strong market demand. Rising Airbnb demand in Goa is driving residential property investments and higher prices. North Goa has ~14000 rental properties listed on Airbnb, with peak season occupancy rates reaching 80-90%, highlighting the strong demand for short-term rentals. Goa is undergoing significant infrastructure expansion, making it a highly attractive real estate destination. The Goa International Airport, Dabolim handled ~35 lakh passengers while the new Manohar International Airport handled ~24 lakh passengers in the year 2024. The Mumbai-Goa Expressway and the Zuari and Mandovi bridge will significantly reduce travel time and open remote areas for development, providing a major advantage for the region. Calling the Annual Members Meet 2025 of NAREDCO Maharashtra in Goa to be an opportunity to understand the State’s real estate landscape better and the Chief Minister’s approach towards the national real estate industry collaborative, Prashant Sharma – President, NAREDCO Maharashtra said, “NAREDCO Maharashtra is privileged to explore opportunities for real estate development in Goa to unleash the State’s potential. Goa is not just an international tourism destination now, but it is transforming into a real estate development hub attracting global investors moving its property markets northwards. Goa’s initiative to invite the developers to tap the real estate opportunities in the State is a welcome step.” Rajan Bandelkar, Vice Chairman, NAREDCO said, “With the Central Government’s impetus on infrastructure growth, even smaller states are transforming significantly with better connectivity and accessibility. Goa is the perfect example of how a state can bolster other businesses including real estate by keeping tourism at the centre. NAREDCO Maharashtra will cement its collaboration with Goa to take the State’s real estate sector on a fast-track mode.” Niranjan Hiranandani, Chairman Emeritus, NAREDCO Maharashtra said, “Completing a decade-long journey in Maharashtra, it is now time for NAREDCO Maharashtra to support other cities, regions and the States in growing the real estate sector. Being a neighbor, Maharashtra can always join hands with Goa in exploring common opportunities for the real estate industry’s growth banking on its sound infrastructure, international connectivity and new development regions opened for the investors. Goa is soon set to top the charts of the best preferred market for second and leisure homes, luxury villas, vacation homes and hospitality businesses for the global investors.” Hari Babu, President, NAREDCO said, “Goa has been witnessing real estate investments by affluent Indian and overseas buyers in recent times owing to their inclination for acquiring income-generating commercial assets or second homes alongside their primary city homes.” When India’s mainstay property markets are expanding

Mumbai, 12th February 2025: Pratap Sarnaik, Minister of Transport, Government of Maharashtra announced that the State’s MSRTC’s bus depots will be taken on a fast-track mode and developed across District, Taluka and Rural areas level and for the entire development, the Government would float about 150 to 160 tenders soon. He was speaking at the NAREDCO NextGen Conclave 2025 organized by NAREDCO NextGen in Mumbai. Sarnaik delivered a keynote address, highlighting that MSRTC holds a vast land bank of approximately 3360 acres. He further informed that in order to develop the MSRDC Bus Depots, the Government has appointed a well-known architect Mr Hafeez Contractor to come up with a presentation to develop the plan. He emphasized the need to develop these strategically located landbanks and urged the State’s developers to come forward to develop the commercial or residential premises. Stating that MSRTC will be made a Planning Authority to execute the project, Sarnaik said, “MSRTC will be made a planning authority and it will sanction the plans under one roof. For the same, MSRTC’s technical team capacities will be built.” Appealing the developers to look for real estate development opportunities beyond the urban areas or select cities, the Minister stated that the developers should take interest in developing real estate even in the rural areas for developing the State. He informed that the land bank in areas such as Lonavala – Khandala, Mahabaleshwar where new DCPR rules are not applicable due to forest and no-development zones, but a major portion of the land will come under the ambit of new DCPR, which will provide adequate FSI for new development. Additionally, efforts are underway to extend the land lease period from 60 years to 99 years. Sarnaik also officially launched the NAREDCO NextGen ‘Digital Learning Hub’ at the prestigious NAREDCO NextGen Conclave 2025, held at the JIO Convention Centre in Mumbai. This innovative online learning platform is designed for young real estate professionals, offering comprehensive insights into emerging trends, cutting-edge technologies, and the latest policy updates. The platform aims to collaborate with top institutions across the country to offer certification programs, empowering the next generation of real estate leaders with the knowledge and skills needed to thrive in an ever-evolving industry. NAREDCO NextGen Conclave 2025, a transformative event was designed to empower the next generation of real estate leaders. It provided a dynamic platform for young visionaries, industry disruptors, and emerging decision-makers to engage in thought-provoking discussions, foster innovation, and collaborate on strategies for a sustainable and inclusive future. The event discussed various Real Estate trends, growth avenues, AI revolution and the impact of Budget 2025 on the real estate industry. In his welcome address Jay Morzaria, National Chairman, NAREDCO NextGen welcomed the August gathering of dignitaries to the NAREDCO NextGen Conclave 2025. This conclave is a platform for deliberating on ideas, collaboration, and progress. The discussions will tackle key challenges and trends, from policy and finance to technology and evolving buyer needs. Dr. Niranjan Hiranandani, Chairman of NAREDCO, highlighted the positive impact of RERA in dispelling misconceptions about the real estate industry. He emphasized how the regulatory framework has brought greater transparency, accountability, and trust among stakeholders. Furthermore, he spoke about the role of innovation in shaping the future of the industry, particularly through the younger generation. He acknowledged that fresh and creative ideas often emerge from individuals under the age of 30, especially in the realm of social media and digital transformation. He encouraged industry leaders to learn from the younger generation, leveraging their insights and technological expertise to drive progress and enhance market outreach. Rajan Bandelkar, Vice Chairman, NAREDCO praised the Prime Minister and the Finance Minister’s efforts to unleash a wave of transformation in the Indian Real Estate Industry through reforms and tax rationalization. He also cautioned the industry to take a note of issues such as global warming, SWACHH Bharat and a holistic use of AI for technology adoption. Mr Bandelkar also anticipated the sector’s continued focus on affordable housing as a demand driver. Hari Babu, President, NAREDCO stated that the new tax regime will usher fresh investments by the tax payers into the real estate sector impacting the demand for affordable housing. He further emphasized the need for greater women’s participation in real estate, recognizing their role in driving innovation and industry growth. He also highlighted the impact of urban migration, stressing the need for sustainable planning to meet rising housing and infrastructure demands in cities. The newly elected committee members of NAREDCO NEXTGEN were announced during the event, bringing a strong leadership team to the organization. Rishabh Siroya, Vice President, NAREDCO NEXTGEN; Vishal Thakkar, Vice President, NAREDCO NEXTGEN; Pratik Kataria, Vice President, NAREDCO NEXTGEN; Aditya Boddu, Vice President–Elect, NAREDCO NEXTGEN; Prathap Reddy Eamani, Vice President–Elect, NAREDCO NEXTGEN and Chintan Vasani, Joint Treasurer, NAREDCO NEXTGEN will assume responsibility of their respective roles. The inaugural panel discussion of the event, titled “Financing the Future: Exploring Innovative Avenues for Growth,” brought together distinguished experts whose insightful contributions illuminated the evolving landscape of financial innovation and its crucial role in driving sustainable growth. The discussion revolved around how Institutions and large-scale investors have accelerated real estate consolidation over the past 14 years. Once a speculative and reckless market, it has evolved into a structured, investable asset class. A clear distinction between institutional and smaller-scale investments marks a fundamental shift in real estate. The second Panel Discussion, titled “Real Estate 2030: Shaping the Future of Urban Landscapes,” proved to be an insightful and pivotal conversation, bringing together the titans of the industry. Esteemed thought leaders and visionaries delved into the dynamic forces shaping the future of urban development, engaging in a rich dialogue that illuminated the path forward for cities in the coming decade. The event concluded with the announcement of NAREDCO Maharashtra Annual Members Meet 2025 on 15th and 16th February 2025 at Taj Cidade De – Goa, where over 200 members will be attending the meet.

Pune has been one of the fastest-growing urban centers, emerging as a hub of education, technology, and industry, and playing a key role in India’s transformation into a dynamic, innovation-driven economy. In this context of nation-building and city-making, VK Group (https://vk-group.org/), a leading built environment consultancy, has played a pivotal role in shaping Pune’s urban landscape through thoughtful design and sustainable construction practices. To celebrate this journey and spark meaningful conversations on the future of urban development, VK Group is hosting VKollective (https://vk-group.org/vkollective-a-vk-group-exhibition/), a three-day exhibition from 21st to 23rd February 2025 at Pandit Jawaharlal Nehru Sanskrutik Bhavan, Ghole road, Pune, open from 11 AM to 8 PM. Under the theme “Building the City We Call Home: Making Pune Better by Design,” the exhibition will explore the work of VK Group, whose pioneering projects have significantly shaped the city’s landscape through architecture, urban design, and policy over the last five decades. VKollective also aims to facilitate conversations, encourage the exchange of ideas and provide an opportunity to discover how thoughtful design creates meaning and drives change through panel discussions and workshops. Key Highlights of VKollective Inauguration Engaging panel discussions featuring experts on built environment topics Exclusive Architectural Illustration Workshop by Ar. Shweta Santosh Hingane of The Archart (https://www.instagram.com/the.archart/) (199K followers on Instagram), a free session for students and professionals on 22nd February, Saturday at 2:30 PM (Register here: https://docs.google.com/forms/d/e/1FAIpQLSeHrl4y0AYac6B6WVYMQN6PxqilZK9Sw2Z4jqyDYoRB7-pyNw/viewform). City Reel Competition Award Presentation – An open-to-all Instagram competition inviting participants to capture their experiences of Pune through a short video, live on VK Group’s handle. Submit your reel and get a chance to win upto Rs 10,000! (Details here: https://www.instagram.com/reel/DBtaJX2Isiy/?utm_source=ig_web_copy_link&igsh=MzRlODBiNWFlZA%3D%3D) Valedictory Session to conclude the three-day event. Whether you are a student, a young professional, or an industry leader in the AEC field this exhibition offers an opportunity to engage with Pune’s evolving design narrative and explore the future of urban development. Come join conversations, share ideas, and discover how design can create meaning and change. (Register here: https://vk-group.org/vkollective-a-vk-group-exhibition/)

Pune, 7 February 2025: Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL), a leading Pune-based real estate player, with growing presence in Mumbai and Bengaluru, announced that the Company has signed a joint development deal for a residential /mixed used project located at Wadgaon Khurd, on Sinhagad road, Pune. The project with the total potential saleable area of ~5 million square feet has an expected Gross Developable Value (GDV) of ~Rs. 4,000 crore. Spread over ~22 acres within Pune Municipal Corporation Limit, this land is strategically located in South-West part of Pune and boasts scenic surroundings and seamless connectivity to CBD Pune and West-Pune zone. It offers breathtaking views of the Mutha River to the north, a serene garden reservation to the south ensuring an unobstructed view, and a 90-meter proposed ring road alongside park reservations to the west. The project has well-established access to social infrastructure, with schools, hospitals, shopping malls and entertainment hubs conveniently located within a 2-kilometer radius. Commenting on the development, Mr. Yash Patil, Joint Managing Director, Kolte-Patil Developers Limited said, “Pune’s real estate landscape continues to evolve, presenting significant opportunities for well-planned, high-quality developments. As a market leader, Kolte-Patil remains committed to expanding its footprint across key micro- markets through a well-calibrated diversification strategy. By leveraging our deep local expertise and strong brand equity, we are strengthening our presence in high-potential areas while shaping Pune’s urban future with thoughtfully designed, community-centric developments that cater to the city’s growing aspirations. Moreover, this project reflects our continued focus on value creation through strategic partnerships and capital-efficient structures, ensuring sustainable growth for all stakeholders.” Commenting on the development, Mr. Atul Bohra, Group CEO, Kolte-Patil Developers Limited said, “We are excited to add this large-scale development of ~5 million square feet, strategically located in South-West Pune, reinforcing our leadership in the city’s dynamic real estate market. This project is a significant milestone for Kolte- Patil, further strengthening our presence in a high-potential micro-market. With strong connectivity and proximity to essential social infrastructure, this development exemplifies our vision of creating vibrant, community-centric neighborhoods while delivering high-quality living spaces. Our focus remains on delivering sustainable value to homebuyers and stakeholders.”